Nowadays many people choose to be self-employed, rather than to work for a company or organization. Why might this be the case? What could be the disadvantages of being self-employed?

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In
this
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age, there is a change in trend that
people
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decide to run their own businesses
instead
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of working as employees in
companies
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. The main reasons behind the shift in the trend could be the freedom and flexibility that being self-employed offers. The downsides of being self-employed will
also
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be discussed in
this
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essay. It used to be that young
people
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graduate from universities and find jobs afterwards.
However
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, nowadays, they are eager to be their own boss because they believe in “You only live once”.
Therefore
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, they would not want to be tied down to 9-to-5 jobs. Looking at their previous generation which generally has loyalty to a company for decades but ends up in financial insecurity at an old age, that may
also
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concern them about their financial freedom.
For instance
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, my neighbour has worked for a company for 30 years. But, he struggled to support his son's education overseas.
Hence
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, his son was determined to run his own
business
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to get rich one day.
In addition
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, technology has advanced dramatically which provides them with many opportunities to make a living through different channels.
For example
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,
people
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can create a Youtube channel and share their skills or knowledge. By having millions of views of their videos, they can earn lots of money. They can create their content at their own pace and it is not necessary for them to follow rigid rules set by
companies
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.
Thus
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, being self-employed allows them to have more control over their time.
On the other hand
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, there is a high risk of running one’s own
business
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. If the capital investment is huge and the
business
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is not lucrative,
people
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might have gone bankrupt shortly. Even if
people
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make use of low-cost online platforms, it might be challenging for them to make ends meet if the audience does not like their content.
Besides
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, those self-employed will not benefit from health care that they
otherwise
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would have if they are employed by some
companies
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. In conclusion,
people
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nowadays prefer to work for themselves probably because of their perception
on
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of
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life to live with more freedom
although
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there may be some caveats of running their own
business
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like some employee benefits provided by
companies
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.
Submitted by yi.jun.smile26 on

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Topic Vocabulary:
  • self-employed
  • company
  • organization
  • freedom
  • independence
  • income potential
  • flexibility
  • working hours
  • working location
  • passions
  • interests
  • decision-making
  • business practices
  • disadvantages
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